Hong Kong retail sales rally picks up in August

15:50 02.10.2018

In August, retail sales managed to add at a faster pace in Hong Kong in contrast with July. That’s what government data disclosed. However, the outlook is still overshadowed by external headwinds, including the impact of US-China trade clashes.

Surge in China's manufacturing sector decreased in September due to the fact that domestic and external demand receded.

Market experts actually expect China's surge to cool further in the nearer future, with a barrage of August economic reports doing little to debunk views that domestic demand is decreasing.

In August, China’s retail sales jumped a better-than-anticipated 9%, powered by home appliances and jewelry.

Meanwhile, market experts are quite optimistic that the influx of tourists from mainland China to Hong Kong will still be firm enough over the long term.

As a matter of fact, August tourist arrivals inched up by up to 17.4% from 2017 hitting 5.896 million, as the Hong Kong Tourism Board informed. The count of mainland visitors jumped by 22%, amounting to up to 81.8% of the total.

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